Retiree Health Optimize your retiree health plans
Get the detailed reporting, analysis, and consulting you need to comply with accounting regulations and produce optimal value for retiree health plan participants.
Retiree Health consulting
We provide disclosures, benefit cost analysis, and general consulting for multiemployer and public sector retiree health plans. Our services include:
Talk to an advisor- Actuarial valuations of retiree health benefit obligations
- Retiree health funding studies and cash flow projections
- Consulting on subsidy recovery for Medicare retiree drug programs
- Consulting on retiree health plan design and alternative retiree coverage options
Why Rael & Letson for retiree health?
Calculations for OPEB (Other Post-Employment Benefits) require expertise in projecting health benefit costs in addition to knowledge of long-term funding methods and actuarial assumptions like those used for pension valuations. We have assembled a dedicated team of professionals from both the retirement and health disciplines to perform OPEB valuations for our clients.
Accounting compliance and increased value for plan participants
We provide timely, complete, and relevant information to our clients so they are able to submit accurate financial disclosures and make decisions that produce optimal value for plan participants.
Dedicated Team
Our dedicated team performs all of the OPEB actuarial valuations and studies for all our clients, which is a unique model in the industry. Our team of health actuaries also has extensive expertise in setting reserve levels, assisting with federal subsidy programs for Medicare drug benefits, and consulting on alternative designs for retiree welfare benefits.
Health Benefits and Retirement Knowledge
Our consultants are fully knowledgeable of today’s health benefits market and issues, as well as the intricacies of long-term actuarial projections like those performed for pension benefits. Our OPEB team is staffed with actuaries and analysts who have formal experience working with pension and/or health plans.
Continuity of Service
We have an exceptionally well-qualified staff with experience, strong depth and little turnover. This means you will work with a familiar, high-caliber team of professionals year after year that have relevant expertise and perspective.
Related insights
InsightsHealth Benefits | Retiree Health
Retiree Health Plans 101
Wes Yoder discusses challenges plan sponsors face when introducing and managing retiree health and welfare plans in Benefits Magazine.
Read moreHealth Benefits | Retiree Health
Retiree benefit costs and options
How to mitigate retiree costs as subsidy levels continue to grow over time.
Read moreTeam Leaders
Jim Whelpley
Consulting Actuary
Jim Whelpley is an Associate of the Society of Actuaries, a Member of the American Academy of Actuaries, and an Enrolled Actuary under ERISA with over 30 years of experience in retiree health and pension consulting. Jim is currently engaged in producing postretirement welfare valuations under FASB ASC 965 for multiemployer trust funds and under GASB 75 for public entities. Prior to joining Rael & Letson in 2004, he was employed by several other large national and international benefits consulting firms. Jim’s recent public sector work includes GASB 75 postretirement welfare valuations and funding studies for several northern California school districts and City/County governments. He has also been involved with vendor searches and various other health-related analyses for CalPERS. Jim’s private sector work has been in the areas of corporate pension and postretirement welfare funding, FASB ASC 715-60 valuations, and the setting of claim reserves and employee contribution rates. On the professional volunteering side, he has been involved in writing several OPEB-related actuarial practice notes for the American Academy of Actuaries as well as a revised Actuarial Standard of Practice No. 6 for the Actuarial Standards Board. Jim graduated from Rutgers University with a B.A. in Mathematics and Computer Science.
Wang Li
Consulting Actuary
Wang Li has over 30 years of extensive actuarial experience. Prior to joining Rael & Letson in 2006, Wang was employed at an international employee benefits consulting firm where he advised large corporations on active and retiree health benefit strategy and plan management. He has also consulted for school districts, public entities and Joint Powers Authorities (JPAs). Wang’s client work includes actuarial valuations for Other Postemployment Benefits (OPEB) as required under FASB ASC 715-60, FASB ASC 965, and GASB 75, as well as accrual rate projections, contribution strategies and development, and vendor procurement. In addition, he has experience in pricing and financial reporting of various insurance products during his initial employment at an insurance company. Wang is an Associate of the Society of Actuaries and a Member of the American Academy of Actuaries. He graduated from the University of California at Berkeley with a B.A. in Statistics and an emphasis in Computer Science.